Devon, PA · Member since 2016 · 93 posts · 23 votes
Here are the fees charged by my Settlement company recently for a purchase price of $105,000 in York County, PA. Please let me know if they are reasonable.
Insured Closing Letter = $125
Tax Certification = $20
Electronic Retrieval Fee = $50
Notary Fee = $45
Overnight Delivery Fee = $12
Incoming Wire Fee = $22
Good Standing Cert for PA LLC = $40
Lender's Title insurance = $50
Total Settlement company fees = $364
Owner's title insurance = $1154 (Sale Rate - for purchase price of $105,000)
Please let me know if these charges are reasonable?
Denver, CO · Member since 2016 · 82 posts · 46 votes
9y
I don't know about PA, but for the last property that I bought here in GA, those costs are lower than what I paid.
In the analysis spreadsheet that I developed for acquisitions, I use $1500 as the number for closing costs (title attorney only; mortgage origination is a separate line item) and I believe that will typically overshoot it.
Devon, PA · Member since 2016 · 93 posts · 23 votes
9y
I did not include the Lender fees (like Origination, appraisal etc) since those are dependent on the lender.
I also did not include the PA State/County Transfer Taxes in the closing costs since those are dependent on the purchase price and does not change often.
I need to know if the Settlement costs listed above are reasonable?